Marriage or Civil Partnership?

Marriage or Civil Partnership?

Marriage or Civil Partnership?

by | Inheritance

As of the beginning of 2020 (and what a year it has been so far…..), British heterosexual couples can now formalise their legal relationship status with marriage or a civil partnership.

Civil Partnerships were introduced in the UK in 2004 for same sex couples.  But after a challenge under the Human Rights Convention to the Supreme Court, they are now available to all couples.

There are a huge number of opposite sex civil partnerships expected this year.  Why?  For many people, marriage is considered a more religious union, whilst they are seeking a legal recognition of their union.  Also a civil partnership does not require the same level of ceremony as a marriage, which may appeal to some couples.

Not many couples in love and planning a life together will be thinking about what happens when they die.  Let Wills Worldwide do that for you now!

In the case of your will, marriage and civil partnership have the same legal meaning.  Existing wills are voided by marriage (unless written in anticipation of marriage to a specific individual), so you must update any wills immediately after marrying.  Otherwise, intestacy law will apply and this may not meet your wishes.

And for inheritance tax?  Luckily, HMRC also affords civil partnerships and marriages the same rights (and taxes).  Spousal tax exemptions apply for both statuses, but they do not apply for cohabiting couples – something those ‘living together’ might want to consider.  If marriage was ‘not for them’, a civil partnership will let them enjoy the same tax breaks as other Mr & Mrs/Mr & Mr/Mrs & Mrs couples.

Marriage or civil partnership?  Both statuses offer couples the same will and inheritance options.  Now all you have to do is sign on the dotted line…..

 

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2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

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Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
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2018-06-05T08:42:23+00:00

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